A NETWORK of underground tunnels and high-speed sleds could be the answer to curing the UK's traffic problem.

Tesla CEO Elon Musk announced his new venture The Boring Company that'll dig hi-tech tunnels below major cities to clear streets of congestion.

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Hi-tech tunnels will rocket cars under city at up to 124mphCredit: The Boring Company

The large-scale underground warren will be filled with sleds capable of transporting vehicles up to 124mph and slash travel times by up to six times.

In a concept video, Musk demonstrated cars driving onto a platform at street level before being transported down into the tunnel. The sleds then rocket the car along on a pre-determined route - much like a giant, real-life underground Scalextric.

Networks could feature up to 30 layers of tunnels and would be compatible with traditional cars - like Tesla's Model S and Musk's pod transportation concept - the Hyperloop.

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A journey between the Los Angeles suburb of Westwood to LAX airport would be done in five to six minutes using the tunnels instead of the half hour it can currently take in traffic, Musk predicts.

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Cars will drive onto platforms at street level much like a traditional parking bayCredit: The Boring Company